Narrow search
Showing 1 - 10 of 236
Cover Image
Bailouts and Financial Fragility
Keister, Todd - 2012
Should policy makers be prevented from bailing out investors in the event of a crisis? I study this question in a model of financial intermediation with limited commitment. When a crisis occurs, the efficient policy response is to use public resources to augment the private consumption of those...
Persistent link: https://www.econbiz.de/10013115675
Cover Image
Fire-sale Spillovers and Systemic Risk
Duarte, Fernando - 2019
for the majority of this increase. Individual banks' contributions to aggregate vulnerability predict other firm …
Persistent link: https://www.econbiz.de/10012905172
Cover Image
Bank Holding Company Dividends and Repurchases during the Financial Crisis
Hirtle, Beverly - 2014
Many large U.S. bank holding companies (BHCs) continued to pay dividends during the recent financial crisis, even as financial market conditions deteriorated, large losses accumulated, and emergency capital and liquidity were being provided by the official sector. In contrast, share repurchases...
Persistent link: https://www.econbiz.de/10013055653
Cover Image
Resolving 'Too Big to Fail'
Cetorelli, Nicola - 2018
capital by 22 basis points, or 10 percent of total funding costs. This effect is stronger in banks that were measured as …
Persistent link: https://www.econbiz.de/10012916388
Cover Image
Monetary Policy, Financial Conditions, and Financial Stability
Adrian, Tobias - 2014
monetary policy's risk-return trade-off, including 1) pricing of risk, 2) leverage, 3) maturity and liquidity mismatch, and 4 …
Persistent link: https://www.econbiz.de/10013047519
Cover Image
A Private Lender Cooperative Model for Residential Mortgage Finance
Dechario, Toni - 2010
We describe a set of six design principles for the reorganization of the U.S. housing finance system and apply them to one model for replacing Fannie Mae and Freddie Mac that has so far received frequent mention but little sustained analysis – the lender cooperative utility. We discuss the...
Persistent link: https://www.econbiz.de/10013139567
Cover Image
Expectations versus Fundamentals : Does the Cause of Banking Panics Matter for Prudential Policy?
Keister, Todd - 2011
There is a longstanding debate about whether banking panics and other financial crises always have fundamental causes or are sometimes the result of self-fulfilling beliefs. Disagreement on this point would seem to present a serious obstacle to designing policies that promote financial...
Persistent link: https://www.econbiz.de/10013119802
Cover Image
Discussion of 'An Integrated Framework for Multiple Financial Regulations'
Adrian, Tobias - 2012
A 2012 paper by Goodhart, Kashyap, Tsomocos, and Vardoulakis (GKTV) proposes a dynamic general equilibrium framework that provides a conceptual — and to some extent quantitative — framework for the analysis of macroprudential policies. The distinguishing feature of GKTV's paper relative to...
Persistent link: https://www.econbiz.de/10013096805
Cover Image
Valuing the Treasury’s Capital Assistance Program
Glasserman, Paul - 2014
terms of the program. We also find that the net value varies widely across banks. We compare our estimates with abnormal … stock price returns for the stress test banks at the time the terms of the CAP announced; we find correlations between 0 ….78 and 0.85, depending on the precise choice of period and set of banks included. These results suggest that our valuation …
Persistent link: https://www.econbiz.de/10013070444
Cover Image
The Capital Structure and Governance of a Mortgage Securitization Utility
Mosser, Patricia C. - 2013
We explore the capital structure and governance of a mortgage-insuring securitization utility operating with government reinsurance for systemic or “tail” risk. The structure we propose for the replacement of the GSEs focuses on aligning incentives for appropriate pricing and transfer of...
Persistent link: https://www.econbiz.de/10013074595